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The President calls for strengthening bilateral economic relations between Lithuania and Ukraine

On Thursday, President Gitanas Nausėda addressed the Lithuanian-Ukrainian Business Forum and the SME Forum “Ukraine 30”. In his word of welcome, the President underlined the need to use the existing potential and continue expanding bilateral economic cooperation.

According to the President, during this harsh period, Lithuania and Ukraine, facing an unprecedented public health crisis and the resulting economic downturn, need to plan ahead and develop measures to ensure economic recovery.

“We must make our economies more resilient. We need to uplift the wellbeing for our citizens. Special focus must be directed towards small and medium sized enterprises. The vast majority of employment and value added are created there,” the President said.

Gitanas Nausėda placed special emphasis on the structural reforms put in place in Lithuania, the economic stimulus package introduced during the pandemic, as well as on the discussions initiated on the relevant corporate profit tax incentive to curb growing unemployment and deal with slower wage growth.

The President also emphasized that he had no doubt whatever about the future of economic cooperation between Lithuania and Ukraine. The results achieved before the pandemic, especially in 2019, were very promising: the overall trade between the two countries increased by as much as a quarter.

“There is a saying in Lithuania that one will know a true friend in distress,” the President said. “Due to many historical, cultural, economic, and political reasons, Ukraine has always been and will continue to be a friend of Lithuania. That is why I am cherishing a hope that even in this challenging period our bilateral relations will grow even stronger.”

The President called for strengthening cooperation between Lithuania and Ukraine in energy, logistics, engineering, and new partnerships in high-tech industries.


The President‘s Communication Group
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